Opinion

Almost from the moment he became president in early 2001, George W. Bush pushed for the sizable, wide-ranging tax cut that was the centerpiece of his 2000 presidential campaign. Congressional Democrats adamantly opposed Mr. Bush's idea and accused him of wanting to do little more than provide a big give-away to his rich friends. A tax-cut package supported by the White House was passed by Congress in May 2001 with only a handful of Democratic votes, and a similar cut in 2003 also passed essentially along party lines.

Among other things, the '01 and '03 packages reduced federal income taxes for all Americans and taxes on investment income, and provided certain benefits for married couples with children. Once all the cuts were in place, the United States experienced a record 52 consecutive months of job growth. The cuts were slated to expire Dec. 31, 2010, but President Obama and Congress extended them for two years.

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